IRAs

The money you contribute to a traditional IRA is tax-deductible – so you can write off your contributions and enjoy years of tax-deferred growth. You won’t have to pay taxes on these funds until you withdraw them.

If you do withdraw after retiring, you may find yourself in a lower tax bracket at that point. If so, you may get to pay a lower tax rate on the money you’ve saved.

With a Roth IRA, you contribute money you’ve already paid taxes on. Although you can’t deduct your contributions, after five years, you can withdraw what you’ve saved tax-free.

Save for retirement with a Certificate, earning tax-deferred or tax-free interest at certificate dividend rates. Your funds remain in the certificate for a predetermined timeframe: three months, six months, nine months, 12 months, 18 months, two years, three years or five years.

Once the increment is up, your savings will have matured, and you can withdraw the money with no Allegacy penalty.* (It is possible to withdraw it sooner, but penalties apply.)

Use penalty-free, tax-free distributions to pay for your child’s college tuition. Contributions are non-deductible.